Netflix has announced a hike in its subscription prices for Nigerian users.
News About Nigeria reports that this marks the second price adjustment within three months, following an earlier increase in April.
The platform’s Premium Plan, which previously cost N5,000 per month, has now risen by 40% to N7,000, according to an update on Netflix’s official website.
The Standard Plan now costs N5,500, up from N4,000—a 37.5% increase. The Basic Plan has also seen a price rise from N2,900 to N3,500, while the Mobile Plan, previously priced at N1,200, has been increased by 83% to N2,200.
In April, Netflix adjusted its subscription fees, raising the Premium Plan from N4,400 to N5,000 and the Standard Plan from N3,600 to N4,000, while keeping the Basic Plan unchanged.
The company cited a broader strategy to align prices across different regions, aiming to boost revenue and support its expanding content library.
These changes come amid a backdrop of high inflation in Nigeria, which has seen the cost of living rise sharply.
Nigeria, the most populous country in Africa, only accounts for 10.5% of all Netflix users on the continent, according to Omdia Research, a tech research company.
MultiChoice’s Showmax overtook Netflix as the market leader in Africa in November 2023.
The price hike by Netflix follows similar moves by other pay-TV providers, including Multichoice, which has implemented three price increases within a year.
Globally, Netflix has been adjusting its pricing in key markets, such as the United States, the United Kingdom, and France, where the Basic and Premium plans saw increases in October 2023.
The base plan costs $15.49, while the premium plan costs $22.99 for US users.
The base plan costs £10.99 for consumers in the UK, while the premium plan costs £17.99.
